Financial Crisis Inquiry Commission Subpoenas Goldman

Posted on June 8, 2010 by Fred Rivera

Reuters.com reports that on Monday (June 7, 2010) the Financial Crisis Inquiry Commission probing the financial crisis subpoenaed Goldman Sachs, after the firm allegedly flooded the commission with 2.5 billion pages of records in response to an earlier request.  According to FCIC Chairman Phil Angelides, in response to an earlier document request Goldman produced 5 terabytes of records, with each terabyte containing 500 million pages of digitized records.  The subpoena includes requests for documents and witnesses concerning Goldman’s synthetic and hybrid collateralized debt obligations and "the ABACUS transactions."

 

According to its website, the FCIC "is a bipartisan commission that has been given a critical non-partisan mission — to examine the causes of the financial crisis that has gripped the country and to report our findings to the Congress, the President, and the American people." 

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